CHINA LOANS GEOTHERMAL MONEY TO KENYA

China Exim Bank lends Kenya $97 mln for geothermal
April 13, 2010 (Reuters)

"Kenya received… a 7.5 billion shilling loan from the Export-Import Bank of China to drill geothermal wells for production of 140 megawatts of energy.

"The east African country has geothermal power potential estimated at 7,000 MW and hopes to tap 5,000 MW of it by 2030."

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"The money will be used to drill 26 steam production wells at the Olkaria IV geothermal field in Kenya's Rift Valley…

"China is one of Kenya's main bilateral partners with cumulative development assistance of 29.45 billion shillings…"

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"Last month, Kenya received a 23.4 billion shilling loan from Japan for another 140 MW at its Olkaria I plant…

"[T]he new Olkaria IV plant [is expected to] cost $714 million…"